The Shanghai-based company will be delighted to have finally completed this funding exercise, which was mandated as far back as 2000 and was almost launched a year ago before a slowdown in the tech cycle prompted underwriters BOC International and Goldman Sachs to postpone.
This time around, the company found good backing from institutional investors who ordered 12 times the amount of shares available to them, according to people familiar with the transaction. The company offered 406.7 million H shares, or 27.5%...
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